Breaking: Gallant Capital Reveals Why It Filed for Bankruptcy Protection
- The decision results from an inability to withdraw funds from one of its counterparties in order to meet liquidity demands.
After days of speculation, Gallant Capital Markets Ltd, the parent company of the Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term broker GCMFX, has just upload an announcement on its website revealing some information about what lead the company last week to file for bankruptcy protection in the US Bankruptcy Court for the Eastern District of New York.
The London Summit 2017 is coming, get involved! [gptAdvertisement] The firm, which is regulated by the British Virgin Islands Financial Services Commission, said this drastic move aimed to facilitate restructuring its balance sheet to better position itself for future opportunities.
The most interesting part in the GCMFX’s statement reads that it has sought bankruptcy court protection due to its inability to withdraw funds from one of its regulated counterparties in order to meet Liquidity Liquidity The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent Read this Term demands. Based on this, the decision to file was done after a comprehensive review of all options available to the company.
Finally, GCMFX said it has notified its regulatory body and will provide its clients with all relevant information as soon as the court allows.
We understand from the press release that GCMFX is not under liquidation but just seeks court protection to fix its finances and core business on the way to an expedited exit from bankruptcy protection and possibly in the hopes of making another ‘go’.
After days of speculation, Gallant Capital Markets Ltd, the parent company of the Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term broker GCMFX, has just upload an announcement on its website revealing some information about what lead the company last week to file for bankruptcy protection in the US Bankruptcy Court for the Eastern District of New York.
The London Summit 2017 is coming, get involved! [gptAdvertisement] The firm, which is regulated by the British Virgin Islands Financial Services Commission, said this drastic move aimed to facilitate restructuring its balance sheet to better position itself for future opportunities.
The most interesting part in the GCMFX’s statement reads that it has sought bankruptcy court protection due to its inability to withdraw funds from one of its regulated counterparties in order to meet Liquidity Liquidity The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent Read this Term demands. Based on this, the decision to file was done after a comprehensive review of all options available to the company.
Finally, GCMFX said it has notified its regulatory body and will provide its clients with all relevant information as soon as the court allows.
We understand from the press release that GCMFX is not under liquidation but just seeks court protection to fix its finances and core business on the way to an expedited exit from bankruptcy protection and possibly in the hopes of making another ‘go’.